Nursing Student Loan
The Nursing Student Loan is a Federal loan based on financial need.
- Students must be accepted/enrolled in an undergraduate degree program as a nursing major, pursuing their first bachelor's degree.
- Nursing Loans are currently not available to on-line students due to limited funding of this program.
- All Villanova students must follow and complete the appropriate instructions to apply for financial assistance.
- The Nursing Loan is a 5% interest loan and becomes payable nine months after leaving the University, or nine months after the student is no longer enrolled at least half-time.
- Entrance interviews are required before a borrower receives their first disbursement of Nursing Student Loan funding. Exit interviews are required if a student changes their major from Nursing to another curriculum, graduates, or drops below half-time enrollment status.
- No payments will be made to the student's account until all requirements, including Promissory Note and Entrance Interview, have been completed by the student borrower.
- A hold may be placed on a student's transcript if the student does not complete the exit interview.
- If you have any questions about the Nursing Student Loan, please send us an email with your question, name, and Villanova University number to firstname.lastname@example.org.
- Federal regulations require that students who have changed their major from Nursing to another curriculum be placed into a 9 month grace period. Borrowers are required to begin making repayment on their Federal Nursing Student Loan(s) when the grace period ends.
- Borrowers may obtain deferments if they participate in certain activities. The chart below briefly identifies those activities and the corresponding maximum period of time for which the borrower can be in deferment.
|Type of Activity||Maximum Number of Years for Deferment|
|Active duty in the uniformed services||Up to 3 years|
|Peace corps volunteer||Up to 3 years
|Full-time or half-time enrollment in a collegiate nursing program leading to a baccalaureate degree or graduate degree in nursing; or Pursuing advanced professional training in nursing, or training to become a nurse anesthetist||Up to 10 years|